October 15, 2018 — Fishmeal and fish oil industry sources are optimistic about the upcoming Peruvian anchovy fishing season, which might start earlier than expected, in mid-November.
Peru’s ministry of production (Produce) is expected to announce the start of the fishing season around the end of October, taking into account the outcome of the maritime institute’s ongoing evaluation.
“Sea conditions are optimal and good reproduction has already started on the acoustic cruise that will end at the end of October,” said Humberto Speziani, IFFO board member and former president of IFFO and of the Peruvian National Fisheries Society (SNP).
Although the evaluation hasn’t yet been completed, it seems that biomass in the water is abundant, which could lead to a quota of 2 million-2.5m metric tons, according to sources. Despite rumors that the quota could be as high as 2.5m metric tons, 2m-2.2m metric tons is more in line with the historical average, one source pointed out.
“2m-2.5m metric tons is quite a reliable assumption of quota,” Jean-Francois Mittaine, an analyst with 30 years experience in the sector, told Undercurrent News, adding that fishmeal and fish oil prices were currently “quite stable”.
Super prime fishmeal is currently priced at around $1,630-1,650 per metric ton, while fish oil is at around $1,350/t, according to industry sources in Peru. Meanwhile, prices in China were slightly falling, driven by expectations of a good upcoming Peruvian season, according to sources.